Internal Control / Operational Policies

AUDIT COMMITTEE

The Audit Committee is tasked with providing internal audit services, maintaining comprehensive records of examinations and inventories, and submitting audited financial reports quarterly or as requested by the Board of Directors and the General Assembly. Key responsibilities include:

- Conducting monthly audits of Cash Receipts and Petty Cash.

- Establishing policies for petty cash disbursement.

- Managing audit procedures and interfacing with accountants, providing guidance to MPPC staff.

- Auditing all payments made, including over-the-counter transactions and related activities.

ELECTION COMMITTEE

The Election Committee is empowered to assess the qualifications of candidates and manage electoral processes, which includes:

- Supervising election conduct.

- Canvassing votes and certifying the election results in writing.

- Proclaiming the winners.

- Hearing and resolving election protests, which are initially decided by the Election Committee and can be appealed to the Board of Directors within fifteen days. Further appeals can be made to the Cooperative Development Authority for mediation or conciliation within fifteen days from the Board’s decision.

CREDIT COMMITTEE

The Credit Committee oversees the cooperative’s credit management, with duties that encompass:

- Processing, evaluating, and deciding on loan applications and withdrawal of deposits. Applications by committee members are handled by the Board of Directors.

- Supervising the collection and management of all member loans.

- Other roles as stipulated in the By-Laws and directed by the Board.

CONCILIATION COMMITTEE

The Conciliation Committee is responsible for resolving intra-cooperative disputes, with functions including:

- Mediating and adjudicating disputes among members, officers, directors, and the community, pending General Assembly approval.

- Issuing rules and procedures for conciliation as necessary.

- Fulfilling additional powers and duties as outlined in the By-Laws and assigned by the Board.

EDUCATION COMMITTEE

Chaired by the Vice-Chairman of the Board of Directors, the Education Committee orchestrates the cooperative’s informational, educational, and human resource development initiatives targeting members, officers, and EAGLE communities. The Board determines its composition.

ETHICS COMMITTEE

The Ethics Committee, appointed by the Board of Directors, is charged with developing the Cooperative's governance codes, including the Code of Ethics. This committee plays a critical role in upholding the ethical standards of the cooperative.

GENDER AND DEVELOPMENT COMMITTEE

Appointed by the Board of Directors, manages the cooperative's initiatives on gender and development. It focuses on promoting gender equality and embedding gender-related considerations into the cooperative's policies and programs. 

These committees ensure that the cooperative operates efficiently, ethically, and in compliance with legal and regulatory standards, enhancing transparency and accountability within the organization.